Alibaba CFO: After being included in the Hong Kong Stock Connect, the shareholding of northbound capital surged
Alibaba-W (09988.HK) Chief Financial Officer Xu Hong stated at the Asian Financial Forum that the group will complete its dual primary listing in Hong Kong by the end of August 2024 and will be included in the Hong Kong Stock Connect list in September of the same year, driving the proportion of Alibaba shares held by northbound investors to surge in the past 15 to 16 months, currently accounting for about 11% of the company's issued share capital. He believes that the Hong Kong market is an important channel for the group to raise funds and connect with global investors
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